Forward Arts Foundation Inc
- Assets
- $5.2m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 48
- Location
- Atlanta, GA
- Founding
- 11/1965
- Data as of
- 06/2020
- EIN
- 58-6048113
Organization Overview
Forward Arts Foundation Inc is located in Atlanta, GA. The organization was established in 1965. According to its NTEE Classification (A40) the organization is classified as: Visual Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2021, Forward Arts Foundation Inc employed 48 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Forward Arts Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2020, Forward Arts Foundation Inc generated $1.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.5%) each year. All expenses for the organization totaled $2.0m during the year ending 06/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Forward Arts Foundation Inc has awarded 30 individual grants totaling $1,471,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
SINCE ITS FOUNDING, THE FORWARD ARTS FOUNDATION HAS PROVIDED SIGNIFICANT SUPPORT TO THE VISUAL ARTS IN ATLANTA, GA, INCLUDING: (I) LEADERSHIP GRANTS FOR ART EXHIBITIONS, (II) DONATIONS FOR SPECIFIC ART ACQUISITIONS BY OTHER LOCAL PUBLICLY SUPPORTED ARTS ORGANIZATIONS, AND (III) ANNUAL SCHOLARSHIPS FOR LOCAL ARTISTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BESIDES RECEIVING MEMBER DUES THE FOUNDATION OPERATES AN ART GALLERY TO SHOW AND SELL ARTWORK AS PART OF THE FOUNDATION'S PRIMARY PURPOSE TO SUPPORT AND FURTHER THE ARTS IN ATLANTA.
OPERATION OF THE SWAN COACH HOUSE RESTAURANT RUN BY THE FOUNDATION. THE RESTAURANT IS ALSO OPEN TO THE PUBLIC AND AVAILABLE FOR USE FOR SPECIAL EVENTS AND BANQUETS FOR INDIVIDUALS AND GROUPS.
OPERATION OF A GIFT SHOP RUN BY THE FOUNDATION FOR THE RETAIL SALE OF GIFTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tracey Derosa Board Member, Treasurer | OfficerTrustee | 8 | $0 |
Liza Jancik Board Member, Secretary | OfficerTrustee | 2 | $0 |
Betsy Glenn Board Member, Gift Shop | OfficerTrustee | 8 | $0 |
Jeanne Bowden Board Member, Chair | OfficerTrustee | 40 | $0 |
Robyn Barkin Board Member, Gallery | Trustee | 2 | $0 |
Caroline Spangenberg Board Member | Trustee | 8 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $764,382 |
| Investment income | $10,399 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $133,886 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$226,055 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $949,073 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,648,904 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $21,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $859,027 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $17,091 |
| Payroll taxes | $71,866 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,043 |
| Fees for services: Accounting | $34,775 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $77,967 |
| Advertising and promotion | $23,685 |
| Office expenses | $121,636 |
| Information technology | $23,469 |
| Royalties | $0 |
| Occupancy | $42,547 |
| Travel | $8,431 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $137,864 |
| Insurance | $58,454 |
| All other expenses | $0 |
| Total functional expenses | $2,014,661 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,090,346 |
| Pledges and grants receivable | $25,000 |
| Accounts receivable, net | $24,922 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $156,168 |
| Prepaid expenses and deferred charges | $10,054 |
| Investments—publicly traded securities | $1,998,440 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $25,000 |
| Total assets | $5,240,641 |
| Accounts payable and accrued expenses | $41,665 |
| Grants payable | $25,000 |
| Deferred revenue | $60,727 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $201,700 |
| Other liabilities | $0 |
| Total liabilities | $329,092 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $4,911,549 |
Grants Awarded
Over the last fiscal year, Forward Arts Foundation Inc has awarded $645,000 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
Atlanta, GA PURPOSE: FUND DOCUMENTARY PHOTOGRAPHY FOR THE 25TH ANNIVERSARY OF "PICTURING THE SOUTH" | $100,000 |
Atlanta, GA PURPOSE: FUND DOCUMENTARY PHOTOGRAPHY FOR THE 25TH ANNIVERSARY OF "PICTURING THE SOUTH" | $100,000 |
Atlanta, GA PURPOSE: FUND DOCUMENTARY PHOTOGRAPHY FOR THE 25TH ANNIVERSARY OF "PICTURING THE SOUTH" | $100,000 |
Atlanta, GA PURPOSE: SPONSORSHIP TO DEVELOP EXHIBITION OF ANCIENT ART TITLED "LIFE AND THE AFTERLIFE: ANCIENT EGYPTIAN ART FROM SENUSRET COLLECTION" | $50,000 |
Atlanta, GA PURPOSE: SPONSORSHIP TO DEVELOP EXHIBITION OF ANCIENT ART TITLED "LIFE AND THE AFTERLIFE: ANCIENT EGYPTIAN ART FROM SENUSRET COLLECTION" | $50,000 |
Atlanta, GA PURPOSE: SPONSORSHIP TO DEVELOP EXHIBITION OF ANCIENT ART TITLED "LIFE AND THE AFTERLIFE: ANCIENT EGYPTIAN ART FROM SENUSRET COLLECTION" | $50,000 |
Grants Recieved
Over the last fiscal year, we have identified 13 grants that Forward Arts Foundation Inc has recieved totaling $166,259.
| Awarding Organization | Amount |
|---|---|
James Starr Moore Memorial Foundation Inc Atlanta, GA PURPOSE: GENERAL OPERATIONS | $37,750 |
The Community Foundation For Greater Atlanta Inc Atlanta, GA PURPOSE: ARTS/CULTURE/HUMANITIES | $37,050 |
Sartain Lanier Family Foundation Inc Atlanta, GA PURPOSE: TO SUPPORT THE MISSION OF THE RECIPIENT ORGANIZATION | $20,000 |
Act Foundation Inc Atlanta, GA PURPOSE: GENERAL OPERATING SUPPORT | $15,000 |
Hellen Ingram Plummer Charitable Foundation Inc Pennington, NJ PURPOSE: UNRESTRICTED GENERAL | $11,960 |
Goldman Sachs Philanthropy Fund New York, NY PURPOSE: ARTS AND CULTURE | $10,000 |
Endowment Analysis
| Beg. Balance | $411,056 |
| Net Contributions | $77,639 |
| Other Expense | $398,795 |
| Ending Balance | $89,900 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Arts & Science Council Charlotte Mecklenburg Inc Charlotte, NC | $42,519,495 | $11,600,726 |
Frist Art Museum Nashville, TN | $27,247,403 | $12,277,490 |
Professional Photographers Of America Inc Atlanta, GA | $48,960,545 | $12,325,076 |
Inda Association Of The Non Woven Fabrics Industry Cary, NC | $9,846,018 | $4,859,607 |
Andreas H Bechtler Arts Foundation Charlotte, NC | $39,434,021 | $2,461,495 |
Georgia Association Of Manufacturers Inc Atlanta, GA | $2,700,140 | $2,292,406 |
The Center For Craft Creativity & Design Inc Asheville, NC | $15,329,103 | $2,386,393 |
Two Red Roses Foundation Inc St Petersburg, FL | $81,826,203 | $5,214,247 |
The Armory Art Center Inc West Palm Beach, FL | $4,340,445 | $2,084,067 |
Forward Arts Foundation Inc Atlanta, GA | $5,240,641 | $1,648,904 |
Southern Highland Handicraft Guild Inc Asheville, NC | $7,206,278 | $2,199,830 |
Lighthouse Artcenter Inc Tequesta, FL | $3,825,019 | $2,482,262 |